3 Dividend Increases: August 27-31, 2018

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Includes: AVT, D, HRS, KO, MO, QCOM, SWK, TFSL, TROW, TRV, XEL
by: FerdiS
Summary

Companies that regularly raise dividends show confidence in the potential growth of future earnings.

One way to identify dividend growth stocks for further analysis is to monitor dividend increases.

In the past week, three companies on my watch list declared dividend increases.

One way to identify dividend growth stocks for further analysis is to monitor dividend increases. Companies that regularly increase dividends show confidence in the potential growth of future earnings.

I use the CCC List as a starting point and apply the following screens:

  • Market cap ≥ $500 million
  • No stocks that are being acquired
  • No Over-The-Counter or Pink Sheet stocks
  • Dividend Yield ≥ 1.5% for Challengers
  • Dividend Yield ≥ 1.0% for Contenders and Champions

Last week, three companies passing these screens declared dividend increases. The following table provides a summary of these increases.

The table is sorted by the percentage increase, %Incr. Dividends are annualized and in US$, unless otherwise indicated. Yield is the new dividend yield for the market close Price on the date listed. Yrs are years of consecutive dividend increases, while 5-yr DGR is the compound annual growth rate of the dividend over a 5-year period. 1-yr %Incr is the percentage increase from the year-ago dividend. (Some companies increase their dividends more than once a year, so this puts the most recent dividend increase in context).

Summary of Dividend Increases: August 27-31, 2018

Previous Post: 4 Dividend Increases: August 20-24, 2018

TFS Financial (TFSL)

TFSL, through its subsidiaries, provides retail consumer banking services in the states of Ohio and Florida in the United States. The company offers various deposit and loan products, and provides escrow and settlement services. TFSL was founded in 1938 and is headquartered in Cleveland, Ohio.

The board of directors of TFSL has declared a quarterly dividend of 25¢ per share. The new dividend is 47.06% above the prior dividend of 17¢ per share. The dividend is payable on September 24 to shareholders of record at the close of business on September 10.

Harris (HRS)

Founded in 1916 and headquartered in Melbourne, Florida, HRS is an international communications and information technology company providing advanced, technology-based solutions to mission critical challenges of government and commercial customers. The company has more than 23,000 employees and operates in more than 125 countries.

The company announced an increase of its quarterly dividend of 20.18% to 68.5¢ per share. The ex-dividend date is September 6 and the dividend will be paid on September 21 to shareholders of record on September 7.

Avnet (AVT)

AVT is a technology solutions company that distributes electronic components worldwide. The company’s Electronic Components segment serves automotive, medical, defense and aerospace markets. Its Premier Farnell segment distributes kits, tools, and components to engineers and entrepreneurs. AVT was founded in 1921 and is headquartered in Phoenix, Arizona.

The company announced a quarterly DIV increase of 5.26% to 20¢ per share. All shareholders of record on September 10 can expect the dividend to be paid on September 20.

Please note that I'm not recommending any of these stocks. Readers should do their own research on these companies before buying shares.

Below, I'm including charts from F.A.S.T. Graphs for two of this week's dividend raisers, HRS and AVT.

In these charts, the black line represents the share price, and the blue line represents the calculated P/E multiple at which the market has tended to value the stock over time. The orange line is the primary valuation reference line. It is based on one of three valuation formulas depending on the earnings growth rate achieved over the time frame in question. (The Adjusted Earnings Growth Rate represents the slope of the orange line in the chart).

HRS's price line (black) is above the stock's normal P/E ratio (blue) and above the primary valuation line (orange). The stock is trading at a premium to fair value. An investment in HRS in July 2009 would have returned 22.1% on an annualized basis (with dividends included).

AVT's price line is below the primary valuation line and above the stock's normal P/E ratio. The stock is trading at about fair value. An investment in AVT in July 2009 would have returned 10.3% on an annualized basis (with dividends included).

Upcoming Ex-Dividend Dates

As a bonus, here is a summary of available ex-dividend dates for the next two weeks. You must own a stock before its ex-dividend date to be eligible to receive the next dividend.

The table is sorted by Ticker, and as before, Next Div is annualized. Please note that Next Div links to the latest dividend declaration announcement.

Summary of Upcoming Ex-Dividend Dates: Dividend Increases: September 4-17, 2018

Company

Ticker

Yield

RecentPrice

Yrs

5-Yr
DGR

Next
Div.

Ex-Div
Date

Pay-
able
Date

American Assets Trust

AAT

2.73%

$39.50

7

4.60%

$1.08

09/12

09/27

Automatic Data Proc.

ADP

1.88%

$146.75

43

10.60%

$2.76

09/13

10/01

Federal Agricultural Mortgage

AGM

3.01%

$77.07

7

29.20%

$2.32

09/13

09/28

Altra Industrial Motion

AIMC

1.74%

$39.05

6

45.00%

$0.68

09/14

10/02

Arthur J. Gallagher &

AJG

2.27%

$72.14

8

2.80%

$1.64

09/06

09/21

Albemarle

ALB

1.40%

$95.52

24

10.30%

$1.34

09/13

10/01

Preferred Apartment Communities

APTS

5.72%

$17.82

8

12.40%

$1.02

09/13

10/15

Avnet

AVT

1.65%

$48.40

6

N/A

$0.80

09/07

09/20

Avery Dennison

AVY

1.98%

$105.18

8

10.30%

$2.08

09/04

09/19

Bank America Corp.

BAC

1.94%

$30.93

5

57.70%

$0.60

09/06

09/28

Best Buy

BBY

2.26%

$79.56

15

14.90%

$1.80

09/17

10/09

Becton Dickinson & Co.

BDX

1.15%

$261.87

46

9.80%

$3.00

09/06

09/28

Briggs & Stratton

BGG

2.78%

$20.16

6

4.00%

$0.56

09/17

10/03

Big Lots

BIG

2.79%

$43.05

5

N/A

$1.20

09/13

09/28

BlackRock

BLK

2.61%

$479.06

9

10.80%

$12.52

09/06

09/24

Broadridge Financial Solutions

BR

1.44%

$135.14

12

15.50%

$1.94

09/17

10/03

BancorpSouth

BXS

1.95%

$34.80

6

66.70%

$0.68

09/13

10/01

Commerce Bancshares

OTC:CBSH

1.32%

$71.06

50

5.30%

$0.94

09/06

09/24

Community Bank System

CBU

2.30%

$66.13

26

4.20%

$1.52

09/13

10/10

Chemical Financial

CHFC

2.38%

$57.12

7

6.10%

$1.36

09/06

09/21

C.H. Robinson Worldwide

CHRW

1.92%

$96.08

20

6.20%

$1.84

09/06

09/28

Chico's FAS

CHS

3.73%

$9.12

9

9.50%

$0.34

09/14

10/01

Comerica

CMA

2.46%

$97.48

9

16.70%

$2.40

09/13

10/01

CME Group

CME

1.60%

$174.73

8

8.10%

$2.80

09/07

09/25

Canadian National Railway

CNI

2.05%

$88.91

21

11.20%

$1.82

09/06

09/28

CNO Financial Group

CNO

1.85%

$21.61

7

42.30%

$0.40

09/07

09/24

Chesapeake Utilities

CPK

1.72%

$86.00

15

5.90%

$1.48

09/13

10/05

CSG Systems International

CSGS

2.25%

$37.35

6

N/A

$0.84

09/11

09/27

Community Trust Bancorp

CTBI

2.91%

$49.40

38

2.70%

$1.44

09/13

10/01

Dominion Energy

D

4.72%

$70.77

15

9.60%

$3.34

09/06

09/20

Digital Realty Trust

DLR

3.25%

$124.28

14

5.00%

$4.04

09/13

09/28

DTE Energy

DTE

3.18%

$111.14

9

6.70%

$3.53

09/14

10/15

Brinker International

EAT

3.43%

$44.28

13

14.90%

$1.52

09/06

09/27

Ecolab

ECL

1.09%

$150.48

26

13.10%

$1.64

09/17

10/15

El Paso Electric

EE

2.35%

$61.30

8

6.30%

$1.44

09/13

09/28

Eastman Chemical

EMN

2.31%

$97.03

8

14.40%

$2.24

09/13

10/05

Extra Space Storage

EXR

3.73%

$92.21

9

31.60%

$3.44

09/13

09/28

First American Financial

FAF

2.95%

$56.86

9

36.90%

$1.68

09/07

09/17

FedEx

FDX

1.07%

$243.95

17

27.20%

$2.60

09/07

10/01

FBL Financial Group

FFG

2.26%

$81.35

8

34.50%

$1.84

09/13

09/28

Flushing Financial

FFIC

3.09%

$25.92

5

6.70%

$0.80

09/07

09/28

First Horizon National

FHN

2.61%

$18.42

7

53.40%

$0.48

09/06

10/01

Financial Institutions

FISI

2.97%

$32.30

8

8.30%

$0.96

09/12

10/02

Fidelity National Financial

FNF

2.99%

$40.10

7

16.40%

$1.20

09/13

09/28

Franco-Nevada

FNV

1.50%

$63.99

11

11.00%

$0.96

09/12

09/27

Forrester Research

FORR

1.63%

$49.20

7

6.30%

$0.80

09/11

09/26

First Merchants

FRME

1.83%

$48.12

7

47.20%

$0.88

09/06

09/21

GATX

GATX

2.08%

$84.45

8

7.00%

$1.76

09/13

09/30

Genuine Parts

GPC

2.88%

$99.85

62

6.80%

$2.88

09/06

10/01

Huntington Bancshares

HBAN

3.45%

$16.21

8

14.90%

$0.56

09/14

10/01

Hillenbrand

HI

1.62%

$51.15

11

1.30%

$0.83

09/13

09/28

HP

HPQ

2.26%

$24.65

8

17.40%

$0.56

09/11

10/03

Harris

HRS

1.69%

$162.51

16

9.50%

$2.74

09/06

09/21

Ingersoll-Rand plc

IR

2.09%

$101.29

8

27.20%

$2.12

09/06

09/28

Iron Mountain

IRM

6.51%

$36.10

8

16.20%

$2.35

09/14

10/02

J&J Snack Foods

JJSF

1.24%

$145.50

14

26.40%

$1.80

09/13

10/04

Kimberly-Clark

KMB

3.46%

$115.54

46

6.50%

$4.00

09/06

10/02

Coca-Cola

KO

3.50%

$44.57

56

7.40%

$1.56

09/13

10/01

Kohl's

KSS

3.08%

$79.11

8

11.40%

$2.44

09/11

09/26

Lamar Advertising

LAMR

4.72%

$77.05

5

N/A

$3.64

09/13

09/28

Lancaster Colony

LANC

1.54%

$156.27

55

9.00%

$2.40

09/06

09/28

Lam Research

LRCX

2.54%

$173.09

5

N/A

$4.40

09/11

09/26

LyondellBasell Industries NV

LYB

3.55%

$112.78

8

19.60%

$4.00

09/04

09/12

Macy's

M

4.13%

$36.55

7

16.60%

$1.51

09/13

10/01

MB Financial

MBFI

1.98%

$48.46

7

44.50%

$0.96

09/13

09/28

Mercantile Bank

MBWM

2.71%

$35.41

7

52.40%

$0.96

09/06

09/19

Mercury General

MCY

4.64%

$53.90

31

0.40%

$2.50

09/12

09/27

MDU Resources

MDU

2.83%

$27.89

27

2.80%

$0.79

09/12

10/01

Methanex

MEOH

1.81%

$72.90

8

10.10%

$1.32

09/13

09/30

Altria Group

MO

5.47%

$58.52

49

8.30%

$3.20

09/13

10/10

Medical Properties Trust

MPW

6.64%

$15.05

5

3.50%

$1.00

09/12

10/11

Merck & Co.

MRK

2.80%

$68.59

7

2.30%

$1.92

09/14

10/05

Motorola Solutions

MSI

1.62%

$128.36

8

15.40%

$2.08

09/13

10/15

Nasdaq

NDAQ

1.84%

$95.44

7

30.20%

$1.76

09/13

09/28

Northern Trust

NTRS

2.05%

$107.46

7

6.10%

$2.20

09/13

10/01

NorthWestern

NWE

3.67%

$59.96

14

7.20%

$2.20

09/13

09/28

Owens & Minor

OMI

6.12%

$16.98

21

3.20%

$1.04

09/14

10/01

Occidental Petroleum

OXY

3.91%

$79.87

15

8.70%

$3.12

09/07

10/15

Prosperity Bancshares

PB

1.92%

$74.84

19

11.20%

$1.44

09/13

10/01

Public Service Enterprise Group

PEG

3.44%

$52.35

7

3.90%

$1.80

09/06

09/28

PepsiCo

PEP

3.31%

$112.01

46

8.50%

$3.71

09/06

09/28

Principal Financial Group

PFG

3.84%

$55.19

10

19.70%

$2.12

09/05

09/28

Packaging Corp. of America

PKG

2.87%

$109.92

8

21.50%

$3.16

09/13

10/15

PolyOne

POL

1.66%

$42.26

8

23.20%

$0.70

09/13

10/04

PPL

PPL

5.51%

$29.74

17

3.10%

$1.64

09/07

10/01

Public Storage

PSA

3.76%

$212.58

8

12.70%

$8.00

09/11

09/27

Qualcomm

QCOM

3.61%

$68.71

16

18.30%

$2.48

09/04

09/26

Everest Re Group

RE

2.33%

$223.02

5

21.30%

$5.20

09/04

09/19

Regions Financial

RF

2.88%

$19.46

6

51.10%

$0.56

09/06

10/01

Retail Opportunity Investments

ROIC

3.95%

$19.74

9

7.20%

$0.78

09/12

09/27

Service Corp. International

SCI

1.62%

$41.96

8

21.40%

$0.68

09/13

09/28

Simmons First National

SFNC

1.90%

$31.60

7

4.60%

$0.60

09/13

10/05

South Jersey Industries

SJI

3.38%

$33.18

19

5.90%

$1.12

09/07

10/02

SpartanNash

SPTN

3.37%

$21.35

8

16.70%

$0.72

09/13

09/28

Spire

SR

3.02%

$74.55

15

4.80%

$2.25

09/10

10/02

Stanley Black & Decker

SWK

1.88%

$140.53

51

6.10%

$2.64

09/06

09/18

Stock Yards Bancorp

SYBT

2.58%

$38.70

9

9.30%

$1.00

09/14

10/01

Telephone & Data Sys.

TDS

2.13%

$30.04

44

4.80%

$0.64

09/13

09/28

T. Rowe Price Group

TROW

2.42%

$115.89

32

10.90%

$2.80

09/13

09/28

Travelers

TRV

2.34%

$131.60

14

9.60%

$3.08

09/07

09/28

United Bankshares

UBSI

3.45%

$39.40

44

1.30%

$1.36

09/13

10/01

UGI

UGI

1.92%

$54.05

31

6.60%

$1.04

09/13

10/01

UMB Financial

UMBF

1.54%

$75.24

26

4.50%

$1.16

09/07

10/01

V.F.

VFC

2.00%

$92.13

45

17.80%

$1.84

09/07

09/20

Vector Group

VGR

10.30%

$15.53

20

5.00%

$1.60

09/17

09/27

Westwood Holdings Group

WHG

4.73%

$57.53

16

10.90%

$2.72

09/06

10/01

Waste Management

WM

2.05%

$90.90

15

5.50%

$1.86

09/06

09/21

Worthington Industries

WOR

1.98%

$46.58

8

10.40%

$0.92

09/13

09/28

Weingarten Realty Investors

WRI

5.11%

$30.93

8

5.80%

$1.58

09/06

09/14

WesBanco

WSBC

2.35%

$49.35

8

8.40%

$1.16

09/06

10/01

Weyerhaeuser

WY

3.92%

$34.71

8

15.10%

$1.36

09/13

09/28

Xcel Energy

XEL

3.16%

$48.05

15

6.00%

$1.52

09/13

10/20

XL Group Plc

XL

1.53%

$57.39

5

14.90%

$0.88

09/13

10/01

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Disclosure: I am/we are long D, KO, MO, QCOM, SWK, TROW, TRV, XEL. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.